Save our SMEs

Save our SMEs was started in order to respond to the severe economic impacts that Micro-, small-, and medium-sized enterprises (MSMEs) and their workforces are facing—in both developed and developing economies—as a result of the COVID-19 pandemic. MSMEs comprise an estimated 80 percent of employment in many countries, and collectively employ billions of people.

They are, indeed, the backbone of the global economy, and are fundamental to the day-to-day provision of goods and services around the world. However, recent reports indicate that many MSMEs do not have enough working capital to last even thirty days in the midst of the Covid crisis, and many have already closed their doors. Action is needed from governments, private sector leaders and international institutions to ensure the continued viability of our MSMEs.

Read the full story.